Let the auctioneer/manager beware

Abstract

Analyses the law covering the role of the management of auction sales and the implications they bring. Explores the legal obligations of the parties to an auction sale with specific reference to the newly defined liability of the managers of the auction where articles or property are sold “without reserve”. Concludes that it is now clear that if an auctioneer refuses to sell to the highest bidder then he will incur liability to the bidder. States that this could have dire consequences. Examines existing case law and new precedent materials to draw such conclusions and provides some recommendations.

Citation

Potter, S. and Lovatt, C. (2002), "Let the auctioneer/manager beware", Management Research News, Vol. 25 No. 6/7, pp. 50-59. https://doi.org/10.1108/01409170210783304